Real Estate Agent · Belmar, NJ · Member since 2017 · 370 posts · 200 votes
I am in the process of taking on clients for co-hosting in addition to continuing to self-manage my own portfolio want to get a feel for what folks are charging their clients.
I've spoken to a few folks already that manage between 15-30 and I've received feedback that they charge anywhere from 20-30%.
For context, I've already decided to charge a percentage of Gross Booking Revenue excluding Cleaning Fee. The Cleaning Fee will be distributed to the Cleaner 1:1.
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Here are my questions for folks here:
- What percentage of bookings do you charge your client? Gross or Net?
- What services do you include for that percentage?
- Do you offer tiered services or one flat rate?
- Do you charge a set-up fee? Any other monthly maintenance fees assessed?
- Minimum period contract term or agreement?
- Add-on services offered and how do you calculate the price?
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Thanks in advance for any insight into your business that you can provide.
Real Estate Agent · Indianapolis, IN · Member since 2022 · 184 posts · 75 votes
2y
I completely agree! Personally, we pride ourselves with being a one stop shop for property management. We have a full cleaning team, cleaning inspectors, operations manager, full time maintenance man, and a full time director of owner relations, then us. We try to make it so that everything is taken care of and thought of for our clients! We do everything from design and set-up to full service management. We are also always looking for ways that our clients can make more money. I wish you the best of luck, I think you can build a great business!!
My fees range from 15%-25% for full service depending on expected revenue.
I will say majority of owners that would qualify for a 25% management fee with me opt to self manage or go LTR due to the fact there isn't any cash flow.
My average fee is 20% for full service. Alternatively, if a client is only looking for marketing and pricing help I charge 10%.